Power Sector Lost ₦310bn in Q1 2026 – NERC
Nigerian electricity distribution companies (DisCos) lost about ₦310bn in Q1 2026 due to unbilled energy and poor revenue collection, according to the Nigerian Electricity Regulatory Commission (NERC).
The DisCos received electricity worth ₦907bn during the quarter but billed only ₦757bn and collected ₦598bn, leaving ₦150bn unbilled and ₦159bn uncollected.
In January, DisCos received energy valued at ₦336bn, billed ₦268bn, but collected just ₦205bn, leaving ₦68bn unbilled and ₦63bn unpaid. Billing efficiency stood at 79.7%, while collection efficiency was 76.3%.
February showed improvement, with billing efficiency rising to 87.4% and collection efficiency to 81.2%. DisCos billed ₦242bn out of ₦277bn received, collecting ₦197bn, though ₦46bn remained unpaid.
In March, DisCos received ₦294bn, billed ₦246bn, and collected ₦196bn, leaving ₦47bn unbilled and ₦50bn unpaid. Overall revenue recovery efficiency was 81%.
Performance varied widely among operators. Eko and Ikeja DisCos recorded strong results, with Eko achieving over 100% recovery efficiency in February by collecting arrears.
In contrast, Kaduna DisCo posted just 41% recovery efficiency, while Jos and Yola DisCos also ranked among the weakest performers.
NERC highlighted persistent challenges including inadequate metering, energy theft, meter bypass, weak enforcement, and poor collection systems, which continue to undermine liquidity across the power sector.
The Nigerian Independent System Operator (NISO) recently reported massive electricity theft along the Ikorodu-Sagamu transmission corridor, with losses of about 180MW, equivalent to Jos DisCo’s daily allocation. NISO warned that such theft threatens grid stability and market revenues.